Core Viewpoint - Terreno Realty Corporation has announced a full-property lease for a redevelopment property in Long Island City, Queens, New York, indicating a strategic expansion in the industrial real estate sector [1]. Group 1: Property Details - The property consists of one industrial distribution building with approximately 48,000 square feet on 2.2 acres [2]. - Located at 49-10 27th Street, the property is adjacent to the entrance of the Queens-Midtown Tunnel and features ten dock-high and 14 grade-level loading positions [2]. - The total investment for the redevelopment is $35.8 million, with the property fully leased to a contractor and rigging provider starting December 2025 and expiring August 2036 [2]. Group 2: Financial Metrics - The estimated stabilized cap rate for the property is 5.7% [2]. - Stabilized cap rates are calculated based on annualized cash basis net operating income stabilized to market occupancy, generally at 95%, divided by total acquisition cost [3]. Group 3: Company Overview - Terreno Realty Corporation operates in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. [4]. - The company focuses on acquiring, owning, and operating industrial real estate, highlighting its commitment to the industrial sector [4].

Core Viewpoint - Terreno Realty Corporation (TRNO) has acquired an industrial property in Redondo Beach, CA for approximately $35.5 million, which is expected to support the company's future growth by enhancing its portfolio [1][8]. Acquisition Details - The acquired property is fully leased to two tenants and is located at 3700 and 3730 Redondo Beach Avenue, covering around 100,000 square feet over 5.1 acres [2][8]. - The property features two industrial distribution buildings with 16 dock-high and three grade-level loading positions, along with parking for 88 cars [2]. - The estimated stabilized cap rate for the property is 5.8% [2]. Capital Recycling Strategy - TRNO follows a disciplined capital-recycling strategy, having recently sold an industrial property in Santa Fe Springs, CA for approximately $11 million [3]. - The company also announced the purchase of an industrial property in Long Island City, Queens, NY for around $31.1 million last month [3][8]. Market Positioning - Terreno Realty is strategically expanding its portfolio in six major coastal U.S. markets: New York City/Northern New Jersey, Los Angeles, Miami, San Francisco Bay Area, Seattle, and Washington, D.C. [4]. - These markets are characterized by solid demographic trends and strong demand for industrial real estate [4]. Stock Performance - TRNO shares have declined by 8.2% over the past month, compared to a 2.5% decline in the industry [5].